Anyone have any clue how the converted cash portion of our restricted stock will be treated? The email Friday indicated that the converted Oxy restricted stock would follow the same terms and conditions as APCs (which I understand), but what about the cash portion? Is that ours at close or will that follow the restricted stock terms and conditions? Seems unprecedented to leave cash in a brokerage account meant to house stock and follow the same rules as restricted stock when it’s not restricted stock. Just not clear how that cash will be treated to me.
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It was already going to sit there in the form of unvested shares. Yes, it’s unfortunate that we don’t get the vesting we would have under past ECs, but at least as cash, it won’t be exposed to the turmoil that the restricted oxy shares will be suffering.
So the cash will sit there wasting away not earning interest and not available to invest?
One of the emails addressed this a couple weeks ago. If you take the VSP or the CoC, then everything is vested immediately. If you continue working with Oxy, the cash portion will also be placed in the brokerage account and follow the same rules as the restricted stock. As you vest, the amount of cash will then be available to you